Common use of Obligation to Pay Not Impaired Clause in Contracts

Obligation to Pay Not Impaired. Nothing contained in this Article 3 or elsewhere in this Guarantee or in the Series 4 Shares is intended to or shall impair, as between a Guarantor, its creditors (other than the holders of Senior Indebtedness), and the Holders of the Series 4 Shares, the obligation of such Guarantor, which is absolute and unconditional, to pay to the Holders of the Series 4 Shares the Series 4 Share Obligations in accordance herewith, as and when the same shall become due and payable in accordance with this Guarantee, or affect the relative rights of the Holders of the Series 4 Shares and creditors of such Guarantor other than the holders of the Senior Indebtedness; nor shall anything herein or therein prevent the Security Trustee or the Holder of any Series 4 Share from exercising all remedies otherwise permitted by applicable law upon default under this Guarantee, subject to the rights, if any, under this Article 3 of the holders of Senior Indebtedness in respect of cash, property or securities of such Guarantor that are received upon the exercise of any such remedy.

Obligation to Pay Not Impaired. Nothing contained in this Article 3 or elsewhere in this Guarantee or in the Series 4 1 Shares is intended to or shall impair, as between a Guarantor, its creditors (other than the holders of Senior Indebtedness), and the Holders of the Series 4 1 Shares, the obligation of such Guarantor, which is absolute and unconditional, to pay to the Holders of the Series 4 1 Shares the Series 4 1 Share Obligations in accordance herewith, as and when the same shall become due and payable in accordance with this Guarantee, or affect the relative rights of the Holders of the Series 4 1 Shares and creditors of such Guarantor other than the holders of the Senior Indebtedness; nor shall anything herein or therein prevent the Security Trustee or the Holder of any Series 4 1 Share from exercising all remedies otherwise permitted by applicable law upon default under this Guarantee, subject to the rights, if any, under this Article 3 of the holders of Senior Indebtedness in respect of cash, property or securities of such Guarantor that are received upon the exercise of any such remedy.. [A&R GUARANTEE INDENTURE FOR SERIES 1 SHARES]

Obligation to Pay Not Impaired. Nothing contained in this Article 3 or elsewhere in this Guarantee or in the Series 4 2 Shares is intended to or shall impair, as between a Guarantor, its creditors (other than the holders of Senior Indebtedness), and the Holders of the Series 4 2 Shares, the obligation of such Guarantor, which is absolute and unconditional, to pay to the Holders of the Series 4 2 Shares the Series 4 2 Share Obligations in accordance herewith, as and when the same shall become due and payable in accordance with this Guarantee, or affect the relative rights of the Holders of the Series 4 2 Shares and creditors of such Guarantor other than the holders of the Senior Indebtedness; nor shall anything herein or therein prevent the Security Trustee or the Holder of any Series 4 2 Share from exercising all remedies otherwise permitted by applicable law upon default under this Guarantee, subject to the rights, if any, under this Article 3 of the holders of Senior Indebtedness in respect of cash, property or securities of such Guarantor that are received upon the exercise of any such remedy.. [A&R GUARANTEE INDENTURE FOR SERIES 2 SHARES]

Obligation to Pay Not Impaired. Nothing contained in this Article 3 or elsewhere in this Guarantee or in the Series 4 5 Shares is intended to or shall impair, as between a Guarantor, its creditors (other than the holders of Senior Indebtedness), and the Holders of the Series 4 5 Shares, the obligation of such Guarantor, which is absolute and unconditional, to pay to the Holders of the Series 4 5 Shares the Series 4 5 Share Obligations in accordance herewith, as and when the same shall become due and payable in accordance with this Guarantee, or affect the relative rights of the Holders of the Series 4 5 Shares and creditors of such Guarantor other than the holders of the Senior Indebtedness; nor shall anything herein or therein prevent the Security Trustee or the Holder of any Series 4 5 Share from exercising all remedies otherwise permitted by applicable law upon default under this Guarantee, subject to the rights, if any, under this Article 3 of the holders of Senior Indebtedness in respect of cash, property or securities of such Guarantor that are received upon the exercise of any such remedy.

Obligation to Pay Not Impaired. Nothing contained in this Article 3 or elsewhere in this Guarantee or in the Series 4 6 Shares is intended to or shall impair, as between a Guarantor, its creditors (other than the holders of Senior Indebtedness), and the Holders of the Series 4 6 Shares, the obligation of such Guarantor, which is absolute and unconditional, to pay to the Holders of the Series 4 6 Shares the Series 4 6 Share Obligations in accordance herewith, as and when the same shall become due and payable in accordance with this Guarantee, or affect the relative rights of the Holders of the Series 4 6 Shares and creditors of such Guarantor other than the holders of the Senior Indebtedness; nor shall anything herein or therein prevent the Security Trustee or the Holder of any Series 4 6 Share from exercising all remedies otherwise permitted by applicable law upon default under this Guarantee, subject to the rights, if any, under this Article 3 of the holders of Senior Indebtedness in respect of cash, property or securities of such Guarantor that are received upon the exercise of any such remedy.